Douglas, Isle of Man, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Synthetic sapphire, also known as Corundum, is a manufactured gemstone. It has the same chemical composition as a natural sapphire.
Synthetic sapphire is made through a procedure called flame fusion. This method requires heating the corundum gemstones at high pressure. Compared to other crystals, the manufacturing of synthetic sapphire is eco-friendly.
Synthetic sapphire is used in many industries today. It is used as a cover glass due to its highly transparent property, sturdiness, and scratch resistance. Furthermore, it is used in the window of IR barcode readers as it is transparent to a wide range of wavelengths and is highly scratch resistant. Additionally, transparent electronic substrates, ultraviolet (UV) and infrared (IR) optics, electrical insulators, and thin film deposition are all made from synthetic sapphire.
The demand for synthetic sapphires has been growing steadily because of their chemical, structural, thermal, optical, and dielectric properties. It is also highly desired due to its high purity, lack of grain boundaries, and minimal contamination.
As of 2021, the global synthetic sapphire market was estimated to be $7249.54 million. However, the global synthetic sapphire market is likely to reach $11686.77 million by 2027 with a CAGR of 8.28%. The key driving force of the global synthetic sapphire market includes the growing demand finest optical material, technological innovations, and growing R&D activities. Moreover, the production of LED is adding to the growth of the global synthetic sapphire market because incandescent and CFL lighting are being replaced with LED lightning.
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In addition, the market is expected to be driven by applying sapphires in diverse fields like aviation and medical equipment. Also, the increasing demand in the semiconductor industry is fueling the global synthetic sapphire market.
However, some factors hinder the growth of the global synthetic sapphire market. These factors include the many leading players in the market and new players entering the market. Moreover, technological advancement can restrain the growth of the global synthetic sapphire market resulting in a low cost of production.
The economic slowdown due to COVID-19 also impacted the global synthetic sapphire market. The pandemic has affected transportation, raw material, and the availability of labour. However, the global synthetic sapphire market experienced a remarkable increase after decreasing pandemic-induced barriers and gradually reducing restrictions.
The global synthetic sapphire market is dominated by North America and Europe, followed by Asia-Pacific. Asia Pacific held a significant proportion of the worldwide synthetic sapphire market in terms of volume and value because of the substantial sales of items like LEDs, semiconductors, and medical devices. The synthetic sapphire market in India, China, and Thailand will grow rapidly over the forecast period, given the increased infrastructure projects and new buildings in these nations.
The global synthetic sapphire market is segmented based on end-users, applications, and types. The key players in the global synthetic sapphire market include Crystalwise Technology Inc., Juropol Sp. z o.o., Rubicon Technology Inc., Namiki Precision Jewel Co. Ltd., ILJIN Display CO. Ltd, Monocrystal, Saint-Gobain, KYOCERA Corporation, SCHOTT AG, and Rayotek Scientific Inc.
A comprehensive report on the global synthetic sapphire market is available on the Douglas Insights website. They are the first comparison engine for market research reports and use advanced algorithms, filters, and comparison engines to compare markets and industries.
The report on the global synthetic sapphire market is a comprehensive insight into the market, trends, growth drivers, challenges, and segmentations. It provides details of the estimates and forecast of the synthetic sapphire market following the evaluation of regions and their applications.
The report uses 2021 as the base year to estimate market size and revenue, providing a detailed review until 2027. The market size is based on countries, regions, and end-users. Moreover, the report looks at the impacts of COVID-19 on the global synthetic sapphire market. The pandemic in 2020 delayed the growth of manufacturing countries around the world. Additionally, the progress in every regional economy was also halted. The report also provides a market assessment of the global synthetic sapphire market after the COVID-19 pandemic, including demand and supply of synthetic sapphire, price impacts, and government strategic decisions.
The report forecasts the global markets, segmentation, and growth rate till 2027. Additionally, the report examines the market driving forces and industry structures. The report also mentions the sales revenue based on the supply chain.
The report provides an in-depth analysis of market segments. These segments are based on end-users, regions, and applications.
End-users include consumer electronics, semiconductor and LED manufacturing, and military, medical, and industrial devices. At the same time, application segments include optical, sapphire substrates, display, and others.
You can also find data on specific regions – particularly the significant users of synthetic sapphire. These countries include North America, Canada, the US, Europe, the UK, Germany, France, Russia, China, Asia-Pacific, India, Japan, South Korea, Brazil, Mexico, and others.
Browse to access an In-depth research report on Global Synthetic Sapphire Market with detailed charts and figures: https://douglasinsights.com/synthetic-sapphire-market
The report's primary purpose is to explain the global synthetic sapphire market and the synthetic sapphire industry. Industrial and consumer application of synthetic sapphire is covered in the synthetic sapphire market and the synthetic sapphire industry. The industrial market is more clearly defined than the jewellery industry and offers better data accessibility and quality.
A complete overview of synthetic gems and crystals is provided in the report. It includes history, types, usage, and market details.
The report contains 60 data tables and 33 additional tables to give you a complete understanding of how the market has been and will be performing.
The report covers the major technical, financial, and environmental factors affecting the production of synthetic sapphires. Moreover, the report identifies the leading companies that can meet the demand for synthetic sapphire. The companies are best positioned because of their unique technologies, business relationships, and other benefits.
In addition, the report provides a detailed company review of the significant global synthetic sapphire market players. These companies include Adamant Namiki Precision Jewel Co. Ltd., Schott AG, Saint-Gobain S.A., Kyocera Corp., and ON Semiconductor Corp.
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Countries Covered in the report are as below:
- North America - United States, Canada, and Mexico
- Europe - United Kingdom, Germany, France, Italy, Russia, Spain & Rest of Europe
- Asia-Pacific - China, India, Japan, South Korea, Australia & Rest of APAC
- Latin America - Brazil, Argentina, Peru, Chile & Rest of Latin America
- Middle East and Africa - Saudi Arabia, UAE, Israel, South Africa
Key questions answered in this report
- COVID 19 impact analysis on global Synthetic Sapphire industry.
- What are the current market trends and dynamics in the Synthetic Sapphire market and valuable opportunities for emerging players?
- What is driving Synthetic Sapphire market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the Synthetic Sapphire market?
- Key growth pockets on the basis of regions, types, applications, and end-users
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
- Statistics on Synthetic Sapphire and spending worldwide
- Recent trends across different regions in terms of adoption of Synthetic Sapphire across industries
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)
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